Accounting professional services provide important financial, analysis, and reporting in support of business events, financial matters, and investor relations. Among the accounting services are typically three levels of financial examinations. These three are referred as audits, reviews, and examinations. An examination generally relates to an isolated evaluation and analysis of a particular issue, question or matter of interest to the client. In contrast, an audit involves detailed analysis and interrogations of clients, documents, records and systems. Among the purposes of auditing services is the authentication of the financial information of a company based on detailed analysis of selected documents and records.
Presently the in-depth and detailed evaluation required for auditing services typically occur on-site at client locations and may require several weeks or more of auditing personnel time on-site. These on-site services involve face-to-face meetings, consultations, and interactions with individuals, small groups, or larger groups. In addition to conferences and meetings, the auditing servicers also receive, review and analyze documents and reports prepared by the company during its ordinary operations. Many of such documents are contained in electronic files and databases of the company.
While onsite auditing services provides opportunity for interpersonal conferences, analysis and support for auditing services of financial information of companies, there are drawbacks to such long-term assignments. Particularly, significant auditing services typically involve long-term assignments for on-site work and meetings. These long term assignments also involve significant costs for lodging and meals of auditing personnel and staff, as well as expenses for travel to distant company facilities being audited. Such busy assignment schedules also interfere with family and personal nonworking activities and often the accounting professionals miss family events due to work requirements.
Accordingly, there is a need in the accounting services profession for an improved apparatus and method for facilitating auditing services while reducing the problems associated with long-term auditing services assignments. It is to such that the present invention is directed.